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45 Vote

Multiple 401K Deductions Share Annual Limit 2023 R3

When an employee has multiple 401K Deductions (Roth AND PreTax), Spectrum has no way to add the two together to track the annual limit.   It's a manual process by employee to make sure they do not exceed the limit.  Try that with 500+ employees.    

• Guest
• Nov 14 2019
• Shipped

Payroll

Company	DNT Construction
Job Title / Role	CFO
I need it...	Yesterday...Come on already

• Comments (3)
• Votes (45)

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  Cheri DeForge commented

  11 Jan 17:27

  Also, can we get Spectrum to adjust the limits based on age?

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  Brent Clark commented

  July 23, 2021 17:36

  Need this ASAP, no reason you shouldn't be able to link a maximum to two deferral codes.

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  Guest commented

  March 06, 2020 16:52

  Right now, I have almost 200 employees. Some, including me, put into a Traditional and a Roth 401k. It would be nice to not have to manually calculate a limit based on their percentages every time someone makes a change to these.

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